GovWire

I am here at COP this week

Because this government recognises that the world stands at a critical juncture in the climate crisis.

And the United Kingdom not only has a critical role to play

But also, an opportunity to grasp

The chance to maximise opportunities for Britain

And make us more secure in the here and now.

The way I see it, there are two paths ahead:

One, the path of inaction and delay

Leading to further decline and vulnerability

Warming above 1.5 degrees will expose hundreds of thousands more people in the UK to flood risk

greater economic instability

And national insecurity.

Or second, the path we walk, eyes wide open

not just to the challenges of today.

But also fixed firmly on the opportunities of tomorrow.

This is the path towards national security.

Energy independence.

And the economic stability necessary to boost living standards for working people.

Let me be clear.

There is no national security

There is no economic security

There is no global security

Without climate security.

And this is a huge opportunity.

For investment

For UK businesses

For British workers

If we act now - to lead the world in the economy of tomorrow.

This is how we move towards better jobs

cheaper bills

higher growth

the industries and technologies of the future.

And ensure the prosperity and security of our nation for decades to come.

And the prosperity and security of our nation are the issues the British people care about.

And that is why, from the beginning, this government has done things differently.

Restoring our role as a climate leader on the world stage

As well as taking action at home.

In the first 100 days of this government.

We scrapped the ban on onshore wind.

We committed to no new North Sea oil and gas licenses.

Began to renew those North Sea communities

with a programme of investment in the jobs and industries of the future.

We closed the UKs final coal power plant at the end of September

Becoming the very first G7 economy to phase out coal power.

And at the same time we are on a mission to achieve clean power by 2030.

We launched Great British Energy

A clean British Energy company

To improve our energy resilience

Bring down peoples bills

And create the next generation of good, well-paid jobs.

We set up the National Wealth Fund

To invest in tomorrows key industries.

To build the infrastructure the wind farms, solar farms, the grid infrastructure

To power and connect our country for decades to come.

Because make no mistake - the race is on for the clean energy jobs of the future.

The economy of tomorrow

And I dont want to be in middle of the pack

I want to get ahead of the game.

Whether thats with carbon capture in Teesside and Merseyside.

Where last month, I announced funding for Carbon Capture, Utilisation and Storage projects

That will create 4,000 new jobs - using the skills of oil and gas communities

As we accelerate towards Net Zero.

Or green hydrogen

With investment announced in last months Budget

For 11 green hydrogen projects across Britain

from Bridgend to Barrow in Furness.

This is good news for the people of Britain.

Its good for our businesses.

Its good for our country.

And its good for the planet.

So at this COP I was pleased to announce that we are building on our reputation as a climate leader

With the UKs 2035 NDC target

To reduce all greenhouse gas emissions by at least 81% on 1990 levels.

Our goal of 1.5C

Is aligned with our goals for growth.

But a global problem also requires global partnership.

Responsible international co-operation.

Which is why we took the opportunity at this COP to again urge all Parties

To come forward with ambitious targets of their own.

As we all agreed at the last COP.

And through the NDC partnership, we are supporting developing countries to develop their own commitments.

We will also soon be launching the Global Clean Power Alliance.

A political alliance of countries committed to accelerating the clean energy transition

Including unlocking the private finances that are needed.

That is why I was pleased to announce Scottish Power has awarded a 1 billion windfarm turbine contract to Siemens Gamesa

Part of their 24 billion investment plan to support British pioneering energy projects

Which will inject growth into our industrial heartlands

And support 1,300 local jobs around Hull

And produce enough clean energy to power 1 million homes.

As well as the Clean Industry Bonus Scheme

To support offshore wind developers

Invest in cutting-edge manufacturing and ports

boost green jobs

and strengthen supply chains.

And the launch of the new CIF Capital Market Mechanism

On the London Stock Exchange.

A joint effort announced today with our international partners and the City of London

With the potential to mobilise up to 75 billion dollars

in additional climate capital for developing countries over the next decade.

And cementing London as the worlds leading green global financial centre

Showing that Britain is open for business

And back as a global leader.

This COP, the UK has sent a clear message.

We are delivering on our promise for good jobs, cheaper bills, and higher growth.

We are backing UK energy and security on the world stage.

We are a key partner for countries, for investors and for businesses

And we are renewing UK climate leadership.

To deliver for Britain.

My mission is to make sure our country

and our children

have the prosperity

the security and the stability

that they deserve for generations to come.

With this government, the UK will lead the way

And lead Britain and the world

into a cleaner, safer, a more prosperous future for all.

Thank you very much.